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The country saw domestic credit grow approximately 15% through July of this year, while foreign credit increased 30%. Indeed, the Argentine central bank intervened in this manner with such aplomb that from 1994 to 2001 its domestic credit position was over six times more volatile than that of Chile's central bank, which plainly has an independent monetary policy and has had a floating exchange rate since 1999. The company also announced a $10 million increase in availability under its domestic credit facility. |
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